The times. (Owosso, Mich.) 1882-1897, 1887-06-24


differences are paid them by Kershaw it Is
expected they viii go b. the wall
President A. NJ Wright of the board of
trade, said that the break was the biggest
and most rapid he had ever seen ON change,
save, perhaps, on the occasion of John b.
Lyons g. Co.'S failure I'm 1872, when wheat
broke right Off from 81 Il to ST. Is per bushel
Wiltshire, the supposed leader of the Gin
cinnati clique, was here Saturday, Sunday,
and Monday, and 1t was well known among
the shorts that repeated interviews occurred
between him and his Chicago brokers at the
Richeleu, and in consequence the latter were
closely watched Kershaw was noticed leav-
ing the last conference Monday night in such
troubled spirits that certain Of the watchful
shorts scented the trouble and as soon as
trading began Tuesday morning, acted upon
their impressions" Leopold Bloom, who
has gained considerable notoriety as scalper,
is said to have cleared SO, 600 ON the decline.
The break did not seriously affect the bucket
shops Some of them lost money, but not
enough to close them up.
CHICAGO, June l6.-To say that the situa-
ton on Change is threatening would not do
justice to the actual facts. Tuesdays drop
in wheat of 10 cents was followed up by a
further break of 81 cents Wednesday, from
which there was but an Insignificant rally at
the close. Seventeen firms were posted for
failure to settle margins, and while it is an
utter impossibility to arrive at anything def
mite in the matter Of the liabilities of the sus-
pended houses, it is safe to say that 20, 000 600
bushels of wheat are involved, and that the
loss on this immense block is not less than
5000, 900, or total of about s., 600, 0O0 in
two days. The suspended houses are G. j.
Kershaw & Co., Crosby q Co., Gregg Sons
& Co., s. d. Eldredge g. Co., j. A. Edwards
& Co., Hord Bros. & Co., L. E. Baldwin &
j. II. Yourst g. Co., B. j. McCleary & Co.,
H.. j. Sheldon, S. G. Orr, NJ, s..
Robinson e. Co., Pickering g. Co., H. K
Matthews, Hubbard 81 Co., M. b. Crafts &
Co, and Yourst g. Brearly. Some of these
firms announced that they will be all right in
day or two.
Besides the above there are innumerable
smaller houses which will go down if the sus-
pended ones fail to come out of the difficulty,
and the excitement on the board was aug
mented by the failure of Charles Henrotin, of
this city, on the New York stock exchange.
He is a private banker and stock broker of
note, and he attributes his failure to the break
of the corner He says he probably owes half
a million, but is confident he can pay dollar
for dollar as soon as he can get his books in
shape TO know where he stands. tStt
i Wednesdays lowest figure for wheat-60
cents--was the lowest since 1862, when wheat
sold for 62. In 1886 the lowest price was 6999s.
The announcement Wednesday morning by
G. J. Kershaw 81 Co. that they would pay
their clearing houke differences was received
with demonstrations Of delight by the brok-
ers at the board of trade, and prices imme-
diately rose several points. 1t had been re-
ported that Kershaw had received $4,000
early in the morning from Cincinnati to meet
his obligations, and the report being generally
believed, the announcement that Kershaw
would settle was, in consequence, received
with the utmost confidence and a satisfaction.
AT noon, however, the clearing house sheet
showed that Kershaw & Co had failed TO pay
their debit balance.